Are you experiencing rapid growth and your accountant or over-worked office manager is not keeping pace? Having a CPA firm outsource your CFO function will take a very stressful – but highly important – function off your hands so you can focus on treating your patients, managing your employees, and the daily operations of your practice.
How It Works
CFO Outsourcing goes a step beyond having an accountant keep up with your bookkeeping. It goes beyond even outsourcing your payroll or having the monthly financial statements prepared for review. In addition to these standard services, CFO Outsourcing provides you with the value of an in-house accounting department without the headache and expense that comes with putting a CFO on the payroll.
You will partner with a dedicated Client Account Specialist who takes care of paying bills and managing the A/P for your practice, reconciling bank and credit accounts, preparing financial statements and in-depth reporting analysis, managing payroll and submitting payroll filings, and working closely with members of your team to ensure all business-related aspects of your practice run smoothly. We create the most efficient work-flow possible, leveraging today’s technology and performing all activity securely online in real-time. All of this is ongoing, and includes our firm supplying strategic financial consulting and tax planning with you throughout the year. Experience convenience like never before with this high-level service.
Step-by-step, this process looks like…
• You… fax, scan or email us your unpaid bills for digital processing and we return them to you for approval and payment date.
• We… reconcile your bank accounts monthly and provide you with accurate financial reporting so you have a clear picture of your practice’s money trail.
• You… supply us with your payroll data and we’ll take care of the rest.
• We… issue checks, pay cards, and perform direct deposits. Plus, we keep you in compliance by filing all payroll related taxes.
• We… provide you with monthly and quarterly reports that focus on the numbers and benchmarks most important to your practice, and walk you through the analysis to address any questions or concerns you may have.
• We… are your tax advocates, dispensing proactive tax advice to keep your liability to a minimum while filing your quarterly and annual business taxes.
• You… enjoy the benefits of having a dedicated support team available to answer any questions you have in regard to your practice’s financial situation, paying employees, vendor payment issues, tax planning, etc.